Entrada Therapeutics (NASDAQ:TRDA) Reaches New 12-Month High – What’s Next?

Entrada Therapeutics, Inc. (NASDAQ:TRDA) reached a new 52-week high on Tuesday . The company traded as high as $18.17 and last traded at $18.03, with a volume of 101296 shares trading hands. The stock had previously closed at $17.77.

Analyst Upgrades and Downgrades

TRDA has been the topic of a number of analyst reports. Oppenheimer upped their target price on shares of Entrada Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday. HC Wainwright upped their target price on shares of Entrada Therapeutics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday.

Entrada Therapeutics Price Performance

The firm has a market cap of $715.36 million, a P/E ratio of 6.30 and a beta of -0.26. The stock’s 50 day moving average is $16.33 and its two-hundred day moving average is $15.61.

Entrada Therapeutics (NASDAQ:TRDA) last released its quarterly earnings results on Tuesday, August 13th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.90. The firm had revenue of $94.69 million for the quarter, compared to analyst estimates of $55.00 million. Entrada Therapeutics had a net margin of 43.63% and a return on equity of 35.16%. As a group, research analysts forecast that Entrada Therapeutics, Inc. will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling at Entrada Therapeutics

In other Entrada Therapeutics news, COO Nathan J. Dowden sold 1,904 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $15.07, for a total value of $28,693.28. Following the transaction, the chief operating officer now directly owns 125,996 shares in the company, valued at $1,898,759.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Nathan J. Dowden sold 1,904 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $15.07, for a total transaction of $28,693.28. Following the transaction, the chief operating officer now directly owns 125,996 shares in the company, valued at approximately $1,898,759.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natarajan Sethuraman sold 2,642 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $15.09, for a total transaction of $39,867.78. Following the transaction, the insider now owns 183,816 shares in the company, valued at $2,773,783.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,187 shares of company stock worth $155,947 over the last ninety days. Corporate insiders own 7.59% of the company’s stock.

Hedge Funds Weigh In On Entrada Therapeutics

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Entrada Therapeutics by 1.3% during the first quarter. Vanguard Group Inc. now owns 1,078,908 shares of the company’s stock worth $15,288,000 after purchasing an additional 13,742 shares in the last quarter. American Century Companies Inc. lifted its holdings in Entrada Therapeutics by 5.1% in the second quarter. American Century Companies Inc. now owns 384,973 shares of the company’s stock valued at $5,486,000 after buying an additional 18,625 shares during the period. Bank of New York Mellon Corp lifted its holdings in Entrada Therapeutics by 13.4% in the second quarter. Bank of New York Mellon Corp now owns 125,436 shares of the company’s stock valued at $1,787,000 after buying an additional 14,838 shares during the period. Marshall Wace LLP lifted its holdings in Entrada Therapeutics by 27.5% in the second quarter. Marshall Wace LLP now owns 65,943 shares of the company’s stock valued at $940,000 after buying an additional 14,220 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Entrada Therapeutics by 3.9% in the second quarter. The Manufacturers Life Insurance Company now owns 57,098 shares of the company’s stock valued at $814,000 after buying an additional 2,146 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.